Question

The comparative financial statements prepared at December 31, 2015, for Prince Company showed the following summarized data:

	2015			2014
Income statement:
Sales revenue	$	190,300	*	$	167,400
Cost of goods sold		112,500			100,600
Gross profit		77,800			66,800
Operating expenses and interest expense		57,000			54,000
Pretax income		20,800			12,800
Income tax		6,240			3,840
Net income	$	14,560		$	8,960
Balance sheet:
Cash	$	5,100		$	5,500
Accounts receivable (net)		15,000			17,900
Inventory		40,400			32,500
Operational assets (net)		46,600			36,100
	$	107,100		$	92,000
Current liabilities (no interest)	$	14,700		$	15,700
Long-term liabilities (10% interest)		44,300			44,300
Common stock (par $5)		28,200			28,200
Retained earnings		19,900			3,800
	$	107,100		$	92,000

*One-third was credit sales.

10.

value:
1.00 points

Required information

Required:

1.

Complete the following columns for each item in the preceding comparative financial statements: (Round your percentage answers to 2 decimal places.(i.e., 0.1234 should be entered as 12.34). Decreases should be indicated by a minus sign.) PRINCE COMPANY Income Statement At December 31, 2015 Increase (Decrease) 2015 over 2014 Amount Percent Sales revenue % Cost of goods sold % Gross profit % Operating expenses and interest expense % Pretax income % Income tax % Net income %

	PRINCE COMPANY Balance Sheet At December 31, 2015 Increase (Decrease) 2015 over 2014 Amount Percent Cash % Accounts receivable (net) % Inventory % Operational assets (net) % $0 % Current liabilities (no interest) % Long-term liabilities (9% interest) Common stock (par $5) Retained earnings % $0 % By what amount did working capital change? Working capital change ?

Answer 1